The governor of the National Bank of Georgia, Koba Gvenetadze, revealed in a recent interview that Georgia’s monetary administration is going to forward new measures to help oversee the nation’s crypto sector.
Additional amendments were prepared by Georgian’s National Bank in conformity with the Financial Action Task Force on Money Laundering. Tech support is being provided to the bank by the International Money Fund.
Gvenetadze states that while the measures are still being decided upon, government officials are enforcing limitations on companies that prohibit cryptocurrency exchange. Preventive measures are to be put on people that are related to trading digital assets.
When confronted with the question of how severe the changes will be to the crypto world, the governor answered that the Georgian government doesn’t have enough information to accurately predict the crypto sector.
Additionally, in October 2021, NGB revealed that a virtual version of Georgia’s fiat currency is on its way with a central bank digital currency supported with blockchain to assist sales.